Earnings summaries and quarterly performance for Goldman Sachs BDC.
Executive leadership at Goldman Sachs BDC.
Alex Chi
Detailed
Co-Chief Executive Officer and Co-President
CEO
DM
David Miller
Detailed
Co-Chief Executive Officer and Co-President
CEO
CK
Caroline Kraus
Detailed
Chief Legal Officer and Secretary
GW
Greg Watts
Detailed
Vice President
JY
Jennifer Yang
Detailed
Vice President
JL
John Lanza
Detailed
Principal Accounting Officer
JY
Julien Yoo
Detailed
Chief Compliance Officer
JB
Justin Betzen
Detailed
Vice President
MC
Matthew Carter
Detailed
Vice President
SM
Stanley Matuszewski
Detailed
Chief Financial Officer and Treasurer
TG
Tucker Greene
Detailed
Chief Operating Officer
Board of directors at Goldman Sachs BDC.
Research analysts who have asked questions during Goldman Sachs BDC earnings calls.
Arren Cyganovich
Truist
3 questions for GSBD
Also covers: AER, ARCC, BPOP +12 more
DH
Derek Hewett
Bank of America
3 questions for GSBD
Also covers: ARCC, BBDC, BCSF +5 more
MH
Mark Hughes
Truist Securities
2 questions for GSBD
Also covers: AIZ, AJG, AMBC +42 more
RD
Robert Dodd
Raymond James
2 questions for GSBD
Also covers: , ARCC, BBDC +24 more
Finian O'Shea
Wells Fargo Securities
1 question for GSBD
Also covers: ARCC, BBDC, BCSF +18 more
Recent press releases and 8-K filings for GSBD.
Goldman Sachs BDC Reports Q4 2025 Results and Declares Dividends
GSBD
Earnings
Dividends
Share Buyback
Debt Issuance
- Goldman Sachs BDC (GSBD) reported net investment income per share of $0.37 and net asset value per share of $12.64 for the fourth quarter of 2025.
- The company declared a Q4 2025 supplemental dividend of $0.03 per share and a Q1 2026 base dividend of $0.32 per share. Additionally, GSBD repurchased 1.5 million shares for $15 million in Q4 2025, which was accretive to NAV by $0.04 per share.
- As of December 31, 2025, the net debt-to-equity ratio was 1.27x. The portfolio's exposure to first lien investments increased to 97%, while annualized recurring revenue (ARR) loans decreased to 11% of the portfolio. Non-accrual investments were 1.9% of fair value.
9 hours ago
Goldman Sachs BDC Reports Q4 2025 Results, Highlights Portfolio Quality and Reduced ARR Exposure
GSBD
Earnings
Share Buyback
New Projects/Investments
- Goldman Sachs BDC (GSBD) reported that 57% of its portfolio now benefits from the 2022 reorganization, with the median EBITDA increasing 84% to $71.8 million at year-end 2025, and first lien investments growing to 97% of the portfolio. PIK as a percentage of total investment income decreased to 9% in Q4 2025 from 15.3% in Q4 2024, and non-accrual investments slightly decreased to 1.9% of fair value.
- GSBD significantly reduced its annualized recurring revenue (ARR) loan exposure from nearly 39% of the portfolio to 11% by year-end 2025, attributed to a strategic focus on EBITDA-based investments.
- The broader Direct Lending platform committed approximately $14.6 billion in the Americas during 2025, an increase from $13 billion in 2024. GSBD's software portfolio demonstrated strong performance with 10.3% year-over-year revenue growth and margins expanding by five points to 34.3%, and the company formalized an AI framework in early 2025 to evaluate disruption risk.
- The company has repurchased over $50 million under its current $75 million authorization, with approximately $23 million remaining, though further utilization depends on the net debt-to-equity ratio and market opportunities.
9 hours ago
Goldman Sachs BDC Reports Q4 2025 Financial Results and Portfolio Updates
GSBD
Earnings
Dividends
Debt Issuance
- Goldman Sachs BDC reported Net Investment Income per share of $0.37 and Net Asset Value per share of $12.64 for the fourth quarter of 2025. The board declared a $0.03 per share supplemental dividend for Q4 2025 and a $0.32 per share base dividend for Q1 2026.
- The company's net debt-to-equity ratio stood at 1.27x as of December 31, 2025. Subsequent to quarter-end, GSBD issued $400 million of three-year investment grade unsecured notes with a 5.1% coupon.
- The portfolio continued its strategic shift, with 100% of Q4 2025 originations in first lien loans and a reduction in annualized recurring revenue (ARR) loans within GSBD to 11% of the portfolio by year-end 2025.
- Credit quality metrics showed PIK as a percentage of total investment income decreasing to 9% in Q4 2025 from 15.3% in Q4 2024, while non-accrual investments slightly increased to 1.9% of fair value.
- GSBD repurchased 1.5 million shares for $15 million during Q4 2025, which was accretive to NAV by $0.04 per share.
10 hours ago
Goldman Sachs BDC, Inc. Reports Q4 2025 Financial Results and Declares Dividends
GSBD
Earnings
Dividends
Share Buyback
- Goldman Sachs BDC, Inc. (GSBD) reported net investment income and adjusted net investment income per share of $0.37 and earnings per share of $0.21 for the quarter ended December 31, 2025.
- The company declared a first quarter 2026 Base Dividend of $0.32 per share and a fourth quarter 2025 Supplemental Dividend of $0.03 per share.
- Net asset value (NAV) per share decreased 0.9% to $12.64 as of December 31, 2025, from $12.75 as of September 30, 2025. The ending net debt-to-equity ratio was 1.27x as of December 31, 2025.
- During the three months ended December 31, 2025, GSBD repurchased 1,544,029 shares for $15.0 million under its 10b5-1 stock repurchase plan.
13 hours ago
Goldman Sachs BDC, Inc. Reports Q4 2025 Financial Results and Declares Dividends
GSBD
Earnings
Dividends
Share Buyback
- Goldman Sachs BDC, Inc. reported net investment income per share of $0.37 and earnings per share of $0.21 for the quarter ended December 31, 2025.
- Net asset value per share decreased 0.9% to $12.64 as of December 31, 2025, from $12.75 as of September 30, 2025.
- The company declared a first quarter 2026 Base Dividend of $0.32 per share and a fourth quarter 2025 Supplemental Dividend of $0.03 per share.
- The ending net debt-to-equity ratio was 1.27x as of December 31, 2025, and investments on non-accrual status amounted to 1.9% of the total investment portfolio at fair value.
- During the fourth quarter of 2025, the company repurchased 1,544,029 shares for $15.0 million.
17 hours ago
Goldman Sachs BDC, Inc. Issues $400 Million in 5.100% Notes Due 2029
GSBD
Debt Issuance
- Goldman Sachs BDC, Inc. entered into a Fifth Supplemental Indenture on January 28, 2026, for the issuance of $400,000,000 aggregate principal amount of its 5.100% Notes due 2029.
- The notes will mature on January 28, 2029, and bear interest at a rate of 5.100% per year, payable semi-annually on January 28 and July 28, with the first payment commencing on July 28, 2026.
- These notes are general unsecured obligations of the Company, ranking pari passu with existing and future non-subordinated debt, effectively subordinated to secured debt, and structurally subordinated to subsidiary debt.
- Holders have the right to require the Company to repurchase the notes upon a Change of Control Repurchase Event at 100% of the principal amount plus accrued and unpaid interest.
Feb 2, 2026, 9:34 PM
Goldman Sachs BDC, Inc. Issues $400 Million in 5.100% Notes Due 2029
GSBD
Debt Issuance
- Goldman Sachs BDC, Inc. (GSBD) entered into an underwriting agreement on January 21, 2026, for the issuance and sale of $400,000,000 aggregate principal amount of 5.100% notes due 2029.
- The notes have a coupon (interest rate) of 5.100% and a yield to maturity of 5.362%.
- The issue price to the public is 99.283% of the principal amount, with a settlement date of January 28, 2026.
- SMBC Nikko Securities America, Inc. is acting as the representative for the underwriters in this offering.
Jan 26, 2026, 9:28 PM
Goldman Sachs BDC Prices Public Offering of Unsecured Notes
GSBD
Debt Issuance
- Goldman Sachs BDC, Inc. (GSBD) has priced an offering of $400 million aggregate principal amount of 5.100% unsecured notes due 2029.
- The notes will mature on January 28, 2029, and are expected to be delivered on or about January 28, 2026.
- The company intends to use the net proceeds to pay down debt under its revolving credit facility and for general corporate purposes.
Jan 22, 2026, 1:40 AM
Goldman Sachs BDC, Inc. Amends Credit Agreement, Increasing Sublimits and Reducing Fees
GSBD
Debt Issuance
- Goldman Sachs BDC, Inc. executed a thirteenth amendment to its senior secured revolving credit agreement on December 17, 2025.
- This amendment increased both the letter of credit sublimit and the swingline sublimit from $150,000,000 to $200,000,000.
- Additionally, the letter of credit fees were reduced from 0.25% to 0.125%.
Dec 22, 2025, 9:31 PM
GSBD Reports Q3 2025 Results
GSBD
Earnings
Dividends
Share Buyback
- For Q3 2025, GSBD reported net investment income per share of $0.40 and earnings per share of $0.22. Net asset value (NAV) per share decreased 2.1% to $12.75 as of September 30, 2025.
- The company engaged in significant investment activity during Q3 2025, with new investment commitments of $470.6 million and $266.9 million funded. Sales and repayments amounted to $374.4 million, resulting in net funded investment activity of $(59.8) million.
- GSBD's investment portfolio was 98.2% senior secured debt, with 96.7% in first lien investments. Investments on non-accrual status represented 1.5% of the total investment portfolio at fair value as of September 30, 2025.
- The Board of Directors declared a Q4 2025 Base Dividend of $0.32 per share and a Q3 2025 Supplemental Dividend of $0.04 per share. Additionally, the company repurchased 2,136,943 shares for $25.1 million during the quarter ended September 30, 2025.
- The company's ending net debt-to-equity ratio was 1.17x as of September 30, 2025, an increase from 1.12x as of June 30, 2025.
Nov 7, 2025, 2:00 PM
Quarterly earnings call transcripts for Goldman Sachs BDC.
Ask Fintool AI Agent
Get instant answers from SEC filings, earnings calls & more